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Video: Child Care Tax Credits

Updated for Tax Year 2022 • November 17, 2022 02:28 PM


OVERVIEW

Did you pay for child care so you could work or look for work? If so, you may qualify for $3,000 in tax credits for one dependent, and a maximum of $6,000 for two dependents or more.


TABLE OF CONTENTS

For information on the third coronavirus relief package, please visit our “American Rescue Plan: What Does it Mean for You and a Third Stimulus Check” blog post.


 

The American Rescue Plan brings significant changes to the amount and way that the Child and Dependent Care Credit can be claimed for your 2021 taxes prepared in 2022. The information in this video is applicable to your 2022 taxes that you will prepare in 2023.


 

Video transcript:

Hi, I'm Arye from TurboTax. Are you a parent who pays for child care? Then you could qualify for as much as 35% of your child care expenses up to $3,000 for one dependent and up to $6,000 of expenses for two or more.

To qualify for the Child and Dependent Care Credit, a qualifying person is any child under age 13 who lived with you for more than six months of the tax year and was your dependent.

There are special considerations for married, divorced and separated individuals which you can learn more about on Turbotax.com.

The Child and Dependent Care Credit can provide between 20 and 35% of your child-care costs, depending on your income. You can also claim costs that cover household services, like housekeeping, if the services were necessary in part for the child care.

You are only eligible for this credit while you are working or looking for work. If you work part-time, you can only claim the part of the day you worked or looked for work.

In addition, you can’t deduct payments made to a spouse or to a dependent as child care expenses.

child looking out a window

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